Pros & Cons of Working with Startups
Professional freelancer consider many factors while taking on new clients including timeline and budget, whether requested job fits their area of expertise, and if the organization is reputable. If a startup business approaches you to complete certain tasks like graphic designing, web development and many more, then what factors freelancers should consider before accepting their jobs. Startups not have strong reputation and they have to establish their history of operations. In this case what you should do? Should you take on this client or run the other way? In underneath discussion I tried to put together all pros and cons that should be considered before accepting freelance jobs from startup.
Cool & Crazy
Many startup businesses are today’s innovators. They bring new ideas, products and services of tomorrow that many of us could never begin to dream up. If there are chances to work for them especially in the field of information technology, you’ll get a sneak preview of some really cool and crazy new gadgets—sometimes even before they hit the market.
Almost all startup businesses tend to be very small, and in the result of this, process for hiring online freelancers and completion of tasks move much more quickly than large or well established organizations. It is very common for successful freelancers such as developers and graphic designers to work directly with a founder or CEO of new businesses. Fewer middlemen can mean faster project feedback, turnaround, and approval.
It is not necessary that every new startup will be flopped. Companies that are small now don’t mean it won’t get bigger. Consider companies that were small when they were new in market and now they are multi-billion dollar companies. Wouldn’t you like their logos in your portfolio? Talk about bragging rights!
Continuous Flow of Jobs
Once you understand the mission, culture, vision and you deliver your services on it-they are unlikely to look elsewhere for work. Many of new startup tends to ask you to provide other related services. I won’t say that startup are more loyal, but early involvement with a small company can mean building strong business relationships that can’t necessarily be found the same way in corporate environments. This may lead you towards continuous flow of online freelance jobs.
Startup usually need from a logo to a website, even they already have these things, and they frequently go through a rebranding once they’ve made or raised enough money to put a bigger budget behind design. Early on, startup teams are usually focused on their products and services, acquiring users and raising of money. For freelancers its means there will be variety of un-completed tasks.
Involve More Risk
Startups are…well, startups. New teams and businesses aren’t established in market and they don’t have a solid revenue stream. In fact, speaking honestly, nine out of ten startups fail. If you are going to take on startup customers, always be prepared for these and other risks. Know that a startup client may not provide long-term, ongoing work as there’s always a chance the startup could fold—maybe even before you get paid.
Shortage of Budget
While many startups are certainly willing to pay good rates for freelance job, others are bootstrapped or operating on a shoestring and may not be able to meet your rates. Tight budgets can also make for a shortage of work or unpredictable work flow. What’s more, small companies have a tendency to undervalue services like logo design, content writing and etc., so even if a startup agrees to your rates, there’s a chance your services will be milked for all their worth.
Lack of experience
Many startups are new to outsourcing work and don’t have established processes in place. This can lead to inefficiencies, delayed payments, and a general misunderstanding of common practices and expectations. For example, startups might request several rounds of revisions, despite the number defined in your contract, and designers could find themselves on the receiving end of excessive demands.
Startups run with small teams consisting of very busy people. It can be difficult to pin down the person you need to talk to and to get your questions answered. Expect slow responses to calls and emails, and be prepared to do a lot of following up.
Startups sometimes lack a clear vision of where their company is going. It’s not uncommon for a startup to pivot—at times, more than once—and as such, they’re still working through brand imaging and messaging. For online freelancers, such ambiguity and frequent changes are likely to bring about unwanted stress and undue burdens.
In the end, every startup is different. Some may have more of the pros than cons, and for others, the cons may outweigh the pros. freelancers will have to consider each engagement on a case-by-case basis, and hopefully this list covering the ups and downs of working with startups will come in handy when making that decision.